As we are all aware, we’re experiencing a time of uncertainty and maintaining a moving business is more challenging than it has ever been before.
This doesn’t mean all business has stopped or that we no longer require new team members to support these challenges, however, it does mean that the time spent focusing on business operations that generate and secure revenue are even more essential.
We have already witnessed a shift in many parts of the job market. In January and February unemployment was at a historic low of 3.5%. Now, as we enter the summer, latest government figures show historic falls in the numbers of vacancies and over 600,000 less workers on companies payroll in a little over the 2 months March-May 2020..
As the UK begins to emerge from lockdown, the unemployment rate we are facing has created more challenges to the recruitment process. A few months ago, applications for job adverts were minimal compared to the hundred plus each precious new job opportunity is receiving now.
The next hires made by any business will be some of the most important made in the next 12-24 months and they have to be “right first time”. Given the considerable increase in supply of candidates now searching, this creates two significant challenges for a business:
The time to review these applications is significant and hugely time consuming
Managing and maintaining positive brand image is increasingly difficult
Exploring these challenges:
The time to review every application
There is no short cut for reviewing an application especially when each CV has a slightly different format and the way information is read is subjective person-to-person. A CV remains the first advert to an individual, but it doesn’t exhibit their personality and the type of culture they will fit into.
Consider that an application takes around 5 minutes to review and if you receive 250 applications, it will take 25 hours to review every resume without a break, and at this stage, that doesn’t include speaking to applicants. This doesn’t include the management of the day-to-day business, eating and sleeping occasionally!
Managing and maintaining positive brand image
If one individual is managing a singular recruitment process, inundation of applications is inevitable and even more so when hiring for multiple positions. It’s imperative to positively manage your employee value proposition (EVP) and brand throughout the screening process; failing to do so could result in high-quality candidates looking elsewhere and unlikely to apply for future roles due to slow response time and lack of communication.
The bottom line is to be effective in this situation is incredibly difficult. Candidates who are viewed as the most talented by your business will be highly regarded by your competitors too and ultimately hard to secure, almost impossible if not actioned in a quick turnaround time.
deverellsmith has successfully delivered a candidate qualification service to multiple clients whereby we allocate a dedicated recruiter with real estate sector experience to filter through resumes according to job profile, screen the candidates, respond to all unsuccessful candidates and finally present a short-list for the line manager. The candidate qualification service is completed efficiently, professionally and in a short space of time to increase availability for other key responsibilities.
We offer this on service on a daily rate basis to assist our clients to present the best way possible as they navigate through the current high volumes of traffic.
Even in difficult times, providing the best possible experience, remaining efficient by saving time and cost in these early new recruitment exercises will go a considerable way to ensure critical first hires are more likely to land successfully.
Nick leads our build-to-rent division at deverellsmith, advising a wide range of clients on hires across investment, development and operational management. His team has advised on some of the most exciting and innovative build-to-rent developments in the UK and European markets.
He graduated from The University of Manchester with First Class Honours in B.A. Management in 2016, and has worked in real estate search and advisory for four years. Clients working with Nick will benefit from unrivalled knowledge of the sector, high quality service and a long-term partnership offering within your business.
Contact Nick directly at firstname.lastname@example.org or on 020 7291 0917.